Will this hurt my credit? How lenders read your credit score, what one mortgage credit check really does, and your options if your credit is bruised.
I was grabbing coffee with a buddy of mine in Hamilton last month. He’s got a good job, a bit of equity in his home, and he’s been thinking about buying a rental property. He looked at me and said, "Greg, I see all these Instagram gurus talking about portfolios. But for a regular guy like me, is this actually possible?"
Can you get a mortgage after a consumer proposal in Ontario? What lenders look for, the "rule of twos", renewing or refinancing during a proposal, and your timeline.
I was talking to a client the other day—let’s call her Sarah. She runs a successful marketing consultancy here in the GTA. Great business, great clients, growing every year. But when she sat down to think about buying a place, she looked at me and said: "Greg, my finances don't look like someone with a pay stub. Can I really get a mortgage? Will I actually qualify?"
I had coffee last week with a buddy of mine—let’s call him Dave. He’s a skilled tradesperson who left a good job with a company in Mississauga to start his own renovation business. Business is booming. He’s got a packed schedule, great clients, and more work than he can handle.
New BlI was on the phone the other day with a buddy of mine—let’s call him Mike. He runs a successful renovation company here in the GTA. He’d just incorporated his business, feeling good about the tax savings and liability protection. Then he dropped the question: "Greg, I want to buy a new place in Burlington this spring. Did incorporating screw up my mortgage?"og Post Description